Bhadrak: A district court in Bhadrak on Tuesday sentenced Brajendra Senapati, director of chit fund company Milan Jyoti International Limited, to three and a half years in jail.
Chief judicial magistrate Amiya Ranjan Jena pronounced the verdict in the case. He also imposed a fine of Rs 10,000 on the convict.
According to sources, a case was filed against Senapati in Bhadrak town police station for allegedly duping people by luring them to invest in his firm. Three other directors of the firm are already serving jail sentence in connection with the scam.
Additional public prosecutor Sheikh Zalim prosecuted the case on behalf of the government.